The US Federal Reserve decided to raise interest rates, as expected, by 25 basis points, to reach 5.50%, in a unanimous decision taken by the members, after the temporary suspension of the raising process at the previous bank meeting in June, bringing interest rates to their highest level in 22 years.

The interest statement issued by the bank stated that the committee is committed to restoring the inflation target of 2% and that it will continue to monitor developments in economic indicators and is ready to adjust monetary policy as needed, stressing that September’s decision will be based on the data received.

In his response to questions from journalists at the press conference, Powell reiterated that inflation is still high and that the situation in the labor market is strong despite the slowdown in employment, and that it is not possible to predict what will happen in September, but he may keep interest rates unchanged and that it will depend on upcoming data, even if the need for more Stress, they are ready for it.